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Up To 46% Of Bailed Out Homeowners Can’t Pay Their Mortgage (Again)

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posted on Jul, 24 2013 @ 09:13 PM

Unemployment is a ticking time bomb, and no mortgage modification is going to help if the home owner lost his or her income stream. Real estate will continue to collapse because of continued job destruction despite what we are being told about recovery. Couple this with rising costs for essential goods, a collapse in retail consumer lending and increased taxes, and I’d say hopes of recovery are just that… hopes.

NO KIDDING, (aviation term coming) OVER!

Since February of 2009, the first full month of Obama’s presidency, 9.5 million Americans have dropped out of the labor force. Nearly 90 million Americans are not working today!
That means that 1.3 Americans have dropped out of the labor force for every one job the administration claims to have created.
There are 15 million more Americans on food stamps today than when Obama assumed office.
At the end of January 2009, 32,204,859 Americans received aid from the Supplemental Nutrition Assistance Program. As of April 2013, there were 47,548,694 Americans on food stamps.
That means that more than two Americans have been added to the food stamp rolls for every one job the administration says it has created.

OK you were going to lose your house no place to go, kids in school etc etc and you have always worked or been able to find a job. So you take the government program to try to make ends meet until a new job is jobs that pay more than the government programs...unless jobs are created I see no solution especially with companies cutting the work force back to part time workers to avoid Obama Care penalties.

According to the June 2013 jobs report, less than half of able-bodied Americans have a full time job.

IMO until the Taxing policies in America are fixed (both private and company wise) we as a nation are in a nose dive... We are very lucky the dive started from a rather high altitude; yet time is running out for the pull up.

edit on Sat Jul 27 2013 by DontTreadOnMe because: added ex tags IMPORTANT: Using Content From Other Websites on ATS

posted on Jul, 24 2013 @ 09:17 PM
My kids were in pull ups! Just what the US economy needs.

Time to grow up and accept that stealing from ordinary people to make the rich, richer does not work.


posted on Jul, 24 2013 @ 09:47 PM
One of these days people might wake up and realize, maybe, that employment and real estate are joined at the hip. There's no separating the two. It doesn't matter what other policies are put in place to help, they're just band-aids that can't stop the bleeding caused when corporations bailed and took their operations overseas to save on labor costs.

Blaming politicians is misguided. They're not in charge. I don't know why people are so scared to point the finger of blame where it belongs.

posted on Jul, 24 2013 @ 09:51 PM
Well.... when your CEO's and managers continue to desire profits over employment of Americans its inevitable.
Sadly, western people are just too damn expensive. Happening here in Australia.
Why would a company pay someone $50k a year to do a job that someone in Asian will do for $10k a year and no benefits. You all want cheap tv's, cars, sofa's, fridges, iphones... we're all to blame.

posted on Jul, 26 2013 @ 08:03 AM
Good points...Who will buy the products or pay the taxes if there are no jobs? I guess as long as a government can print something on a piece of paper and claim the paper has value and the people accept it as something of value then all is well...That has worked in many countries before...until it didn't and then it got ugly real fast.

I am so lucky to have worked in my chosen field for most of my life and retired in a way that I do not really worry where my next meal is coming. I feel so sorry for those who graduated high school or college, went to work for a company and got let go in their 50s because the company had to reduce cost or moved over seas. We have those who are in a bad situation through no fault of their own...For the lazy Bas*****s that cut school and never thought about their future because they are special and deserve stuff because they are who they are then I do not really care where they end up ....OOOOh I'm bad!

Our young people in many cases are facing a very uncertain future; again in many cases through no fault of their own..... just no jobs...
edit on 26-7-2013 by 727Sky because: ....

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